Hard money lenders for buy and hold?

11 Replies

@Jason Gordon one of the main concepts to hard money is that it is not a long term solution. There are some out there that will modify or refinance their HML into a 20 year fixed rate but that rate will be significantly higher than market rate. Usually when I hear "creative financing" it means that someone wants as little out of pocket as possible. Hard Money Lenders can provide that type of a service and there are some local/community banks that will likely have those types of loans too. Most will require at least 10% down if this is your first time working with them though. If you are needing a lender local to Wichita then please post this in the Kansas forum. Good luck!

Right now it seems like multi family is overpriced. I just found an off market deal for 2 4plexes for $715K total purchase price.

Total rent is $8k mo. 

Its in a really nice area on the east side. Would this fit into numbers you would consider?

It seems as if new construction may be a better option. Have you tried the brrr stratagy? That is what has been working best for me.

_Derek Blades on facebook

_Looking for hard money lenders ( $50k - $150k | 3-6 Months)

_Looking to buy packages of SFH

Originally posted by @Account Closed :

Right now it seems like multi family is overpriced. I just found an off market deal for 2 4plexes for $715K total purchase price.

Total rent is $8k mo. 

Its in a really nice area on the east side. Would this fit into numbers you would consider?

It seems as if new construction may be a better option. Have you tried the brrr stratagy? That is what has been working best for me.

_Derek Blades on facebook

_Looking for hard money lenders ( $50k - $150k | 3-6 Months)

_Looking to buy packages of SFH

 What are the total expenses on the 2 quads?